The Quadrant Protocol (eQuad) ICO
What is Quadrant Protocol?
Quadrant Protocol is a decentralized network that attempts to capitalize on the growing market for big-data. The Quadrant Protocol team believes there are significant problems with the way data is collected and sold in the world today. Companies like Google that have millions of users have access to vast amounts of data, allowing them to innovate and create quality products. But smaller companies do not have access to this data. This forces them to buy aggregated data from various outlets. This puts them at a huge disadvantage.
In addition, brokers often provide false data, leading to continuing distrust of data-brokers. When data consumers are able to get 100% accurate data, it often comes from multiple sources and contains duplicate content. This forces companies to pay for the same data twice.
Quadrant Protocol believes the solution to this problem lies in creating a decentralized network that guarantees the authenticity of data and allows data consumers to know where the data they are buying has come from.
How does Quadrant Protocol work?
On the Quadrant Protocol network, the originators of data are called "nurseries." Nurseries create “stars,” which are individual pieces of raw data. These raw pieces of data are picked up by data vendors, called “Pioneers.” Pioneers create data-products that can be sold in the marketplace, which are called “constellations.”
When a Pioneer creates a constellation, he/she must submit it to a Guardian to be stamped and authenticated. Once the constellation is stamped, it is possible to track every star within it and to know which nursery provided that star. As a result, Pioneers will find it easy to determine how much to pay each nursery. In addition, data-consumers, called "Elons," will be able to know in advance which constellations contain duplicate data to what they already have. They can then decide whether a particular constellation has enough new data to be worth paying for, or whether it is just duplicate content.
Because Elons will know where each piece of data came from, the Quadrant protocol network will also help them to deal with regulators. This is because they will be able to prove that their data was acquired legally and ethically. With the increasing scrutiny now being paid to privacy issues in the acquisition of data, this is sure to be another helpful feature of Quadrant Protocol in the future.
How is Quadrant Protocol unique?
Quadrant Protocol’s primary competitors are traditional data brokers like Acxiom, DataLogix, and Epsilon Data Management. However, these brokers have no way to guarantee the authenticity of their data. As a result, the Quadrant Protocol team believes it can effectively compete with these companies.
In addition, it’s important to understand that Quadrant protocol is merely a platform for buying and selling data. In order for this platform to work, someone must take on the role of Pioneer. So it’s possible that these brokers could eventually join the Quadrant Protocol. In this sense, Quadrant Protocol is completely unique because it is a platform for authenticating data, not a creator of data itself.
Who makes up the team behind Quadrant Protocol?
The Quadrant Protocol team is made up of experts in big-data and software engineering. It includes Founder and CEO Mike Davie (Founder of DataStream X), Director of Engineering Barkha Jasani (former Technical Lead for N-Xperts Solutions), Head of Marketing Navas Khan, EU Community Manager Nikos Kostopoulos, and engineers Sharique Azam, Marlina Farhin, and Roger Ganga. Advisors to the team include Dorjee Sun, Benedict Chan, Hari Krishnan, Everett Leonidas, Jeremy Seow, Whit Walker, and Pavel Bains.
More details about the Quadrant Protocol ICO
The Quadrant Protocol ICO is launching on 26 June, 2018 and will end on 26 July, 2018. Investors who wish to participate will need to sign up for the waitlist. For the public, tokens will be transferable as soon as the ICO ends.
The Quadrant Protocol (eQuad) tokens will cost US$0.05 each, to be paid in ETH equivalent. The team has already raised the US$3 million minimum needed to go forward with the plan. It hopes to raise US$20 million total.
The June 26 public sale will comply with the following allocation strategy:
40% will be sold in the ICO. If any of this eQuad is left unsold, a second token sale will take place within two years
20% will be held by the company
20% will be given to stakeholders
10% will be reserved
10% will be given to the team
The funds raised will be used in the following manner:
35% will be used for business and network development
30% will be used for research and development and platform enhancements
25% will be spent on operations and security
5% will finance legal and compliance costs
5% will fund the Treasury